*HomeSaver members who have been in the programme for at least 6 months, have a minimum balance of $10,000 in their HomeSaver Online Bonus Saver or Online Bonus Saver PIE account and draw down a Westpac home loan by 31 December 2022 are eligible for a first home booster of $1,000 (maximum of one first home booster per property) which will be paid into your Westpac transaction account after drawdown.
**Requirements introduced by the Reserve Bank limit the amount of low equity home loan funding banks can provide. conditional approvals for low equity HomeSaver members cannot be guaranteed, however Westpac will give priority to customers who participate in HomeSaver and demonstrate regular savings behaviour for 6 months or more, have a good credit history and have a minimum balance of $10,000. If you are saving for an investment property you will need a deposit or equity of at least 40%.
***Monthly bonus returns are only available for the Online Bonus Saver or Online Bonus Saver PIE accounts if you make at least one deposit and no withdrawals by the last business day of the month.
Rates are subject to change without notice.
The HomeSaver package includes the Online Bonus Saver or Online Bonus Saver PIE account. To operate the Online Bonus Saver account, you must hold a Westpac transaction account. To operate an Online Bonus Saver PIE account, you must maintain a minimum balance of $500 and hold a Westpac transaction account. Any transfers from your Online Bonus Saver or Online Bonus Saver PIE account can only be made directly to your transaction account.
Online Bonus Saver PIE is offered under the Westpac Cash PIE Fund. A copy of the term sheet for the Westpac Cash PIE Fund (“the Fund”) is available online and in branch. Investments made in the Fund do not represent bank deposits or other liabilities of any Westpac group companies. They are subject to investment and other risks and are not guaranteed by any Westpac group company or any other person.
Details of fees are available at westpac.co.nz. You can get a copy of the current disclosure statement for Westpac New Zealand Limited from any Westpac branch in New Zealand, free of charge.
The HomeSaver package cannot be used in conjunction with any other offers. Westpac will review the HomeSaver package on an annual basis from 2015 onwards. Terms and conditions are subject to change at any time at Westpac's discretion.
Terms, conditions, fees and charges apply to Westpac products and services. For more details, refer to westpac.co.nz. Some products, services and offers may only be available to New Zealand residents.